SBP phases out Sohni Dharti remittance programme, ends new rewards from July 1

The State Bank of Pakistan (SBP) has begun winding down its flagship Sohni Dharti Remittance Programme (SDRP), ending the award of new reward points for overseas Pakistanis from the start of fiscal year 2026-27.

In instructions issued to banks and financial institutions, the central bank said remittance transactions made from July 1, 2026, onward will no longer qualify for reward points under the programme.

However, the SBP clarified that all eligible remittances received through formal banking channels up to June 30, 2026, will continue to earn points. Banks will submit details of those transactions to 1LINK, which will credit the rewards under the existing mechanism.

While the accumulation of new points has stopped, users will still have one year to utilise the points already earned. The central bank said all reward points accumulated by June 30, 2026, will remain redeemable until June 30, 2027.

After that deadline, the Sohni Dharti Remittance Programme will be completely discontinued, with the SBP confirming it will become non-functional from July 1, 2027.

The SDRP was launched as a loyalty programme to encourage overseas Pakistanis to route remittances through SBP-regulated financial institutions instead of informal channels. By rewarding users for sending money through official banking systems, the initiative aimed to strengthen Pakistan's foreign exchange inflows and promote documented remittance transactions.

Participants earned points based on their remittance activity, which could be redeemed free of charge for a range of government services. These included emigrant registration fees at the Bureau of Emigration and Overseas Employment, customs duties on imported mobile phones and vehicles payable to the Federal Board of Revenue, school fees at the Overseas Pakistanis Foundation, and passport renewal charges at the Directorate General of Immigration and Passports.

The programme was initially introduced with Green, Gold and Platinum membership tiers before the SBP expanded it by adding a Diamond category on September 22, 2023, offering additional benefits to high-value remitters.

The decision comes a day after Prime Minister Shehbaz Sharif praised overseas Pakistanis as the country's "most valuable asset" during a meeting on Wednesday, saying their remittances continue to serve as a critical pillar of Pakistan's economy and foreign exchange reserves. He also directed relevant authorities to speed up welfare measures aimed at addressing the longstanding concerns of expatriate Pakistanis.